Kornitzer Capital Management Inc. KS Buys Shares of 111,525 Nutanix (NASDAQ:NTNX)

Kornitzer Capital Management Inc. KS bought a new stake in Nutanix (NASDAQ:NTNX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 111,525 shares of the technology company's stock, valued at approximately $7,786,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTNX. Norges Bank acquired a new stake in Nutanix in the fourth quarter valued at $195,758,000. Pictet Asset Management Holding SA lifted its holdings in Nutanix by 6,785.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after acquiring an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Nutanix during the 4th quarter worth $91,639,000. Contour Asset Management LLC acquired a new position in shares of Nutanix during the 4th quarter worth $87,318,000. Finally, Perpetual Ltd raised its stake in shares of Nutanix by 10,205.2% during the 1st quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock worth $61,150,000 after buying an additional 867,446 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NTNX. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Piper Sandler reaffirmed an "overweight" rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Susquehanna lifted their price target on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group began coverage on Nutanix in a research note on Tuesday. They set a "buy" rating and a $95.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Nutanix Stock Performance

Nutanix stock opened at $74.25 on Wednesday. The stock's 50 day moving average price is $76.37 and its 200 day moving average price is $70.56. The firm has a market capitalization of $19.90 billion, a PE ratio of 147.88, a price-to-earnings-growth ratio of 6.69 and a beta of 0.67. Nutanix has a one year low of $43.35 and a one year high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The company had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. During the same period in the prior year, the company posted $0.28 EPS. Nutanix's quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the sale, the director directly owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the sale, the director directly owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,552,549 shares of company stock valued at $426,621,281. Company insiders own 6.80% of the company's stock.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.

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